Compensation for Expropriation: The Political and Economic Parameters.

There is a concern in certain quarters, also expressed within the ANC, that compensation for expropriation should be at market value. The reasons given include factors such as the necessity to create a stable environment for investment and the desirability of creating a secure system of property rights. In this context it is argued that the new government must be seen to be fair and make a clear-break with the racially discriminatory land policies of the past. The main thrust of this paper is that it would be a mistake to establish a system which defines rights to compensation as finite individual claims against State resources. Rather, it is posited that compensation for loss should be proportionate to past and present interests in the land.

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